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Australian (ASX) Gold Industry Analysis

UpdatedApr 12, 2026
DataAggregated Company Financials
Companies154
  • 7D9.5%
  • 3M-0.1%
  • 1Y54.7%
  • YTDn/a

In the last week, the Gold industry is up 9.5%, with Northern Star Resources up 12%. During this same period, the Meeka Metals underperformed, falling 5.9%. This takes the industry's 12 month performance to a gain of 55%. Looking forward, earnings are forecast to grow by 26% annually.

Industry Valuation and Performance

Has the Australian Gold Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 12 Apr 2026AU$165.7bAU$32.3bAU$6.6b16.2x25.1x5.1x
Tue, 10 Mar 2026AU$165.6bAU$31.1bAU$6.3b23.4x26.5x5.3x
Thu, 05 Feb 2026AU$181.2bAU$26.3bAU$4.6b30.5x39.8x6.9x
Sat, 03 Jan 2026AU$162.7bAU$26.4bAU$4.6b26.1x35.6x6.2x
Mon, 01 Dec 2025AU$153.4bAU$26.5bAU$4.6b25.2x33.6x5.8x
Wed, 29 Oct 2025AU$132.7bAU$26.4bAU$4.6b23.2x29x5x
Fri, 26 Sep 2025AU$135.6bAU$26.9bAU$4.8b20.4x28.2x5x
Sun, 24 Aug 2025AU$106.6bAU$24.8bAU$4.4b16.8x24.2x4.3x
Tue, 22 Jul 2025AU$97.7bAU$22.2bAU$3.1b17.1x31.5x4.4x
Thu, 19 Jun 2025AU$104.2bAU$22.3bAU$3.1b19.1x33.7x4.7x
Sat, 17 May 2025AU$95.3bAU$22.4bAU$3.1b20.2x30.7x4.3x
Mon, 14 Apr 2025AU$93.7bAU$22.2bAU$3.0b18.3x30.7x4.2x
Wed, 12 Mar 2025AU$76.3bAU$22.1bAU$3.0b18.3x25.7x3.5x
Fri, 07 Feb 2025AU$83.2bAU$18.7bAU$1.8b20.8x45.6x4.5x
Sun, 05 Jan 2025AU$71.2bAU$18.7bAU$1.8b22x39x3.8x
Tue, 03 Dec 2024AU$72.5bAU$18.6bAU$1.8b21.5x40.2x3.9x
Thu, 31 Oct 2024AU$78.7bAU$18.4bAU$1.8b23.6x43.7x4.3x
Sat, 28 Sep 2024AU$70.1bAU$18.3bAU$1.8b22.1x38x3.8x
Mon, 26 Aug 2024AU$65.1bAU$17.3bAU$1.2b23.8x52.6x3.8x
Wed, 24 Jul 2024AU$60.3bAU$16.1bAU$1.1b22.8x55.8x3.8x
Fri, 21 Jun 2024AU$57.8bAU$16.9bAU$1.2b19.2x49.1x3.4x
Sun, 19 May 2024AU$59.7bAU$17.1bAU$1.2b22.5x50.5x3.5x
Tue, 16 Apr 2024AU$59.5bAU$17.2bAU$1.2b22.7x49.6x3.5x
Thu, 14 Mar 2024AU$52.0bAU$16.7bAU$1.2b19.5x42.6x3.1x
Sat, 10 Feb 2024AU$48.8bAU$15.3bAU$279.3m22.8x174.9x3.2x
Mon, 08 Jan 2024AU$73.9bAU$22.9bAU$1.3b23.3x54.9x3.2x
Wed, 06 Dec 2023AU$74.9bAU$22.9bAU$1.3b23.3x55.5x3.3x
Fri, 03 Nov 2023AU$69.5bAU$23.0bAU$1.4b22.7x51.1x3x
Sun, 01 Oct 2023AU$66.1bAU$23.0bAU$1.3b22x49.1x2.9x
Tue, 29 Aug 2023AU$68.4bAU$22.6bAU$1.1b16.4x63.2x3x
Thu, 27 Jul 2023AU$71.1bAU$22.2bAU$532.9m17.6x133.4x3.2x
Sat, 24 Jun 2023AU$67.2bAU$22.3bAU$552.4m16.7x121.7x3x
Mon, 22 May 2023AU$72.2bAU$22.3bAU$581.7m18.7x124.2x3.2x
Wed, 19 Apr 2023AU$77.0bAU$22.2bAU$569.7m18.2x135.1x3.5x
Price to Earnings Ratio

135.1x


Total Market Cap: AU$77.0bTotal Earnings: AU$569.7mTotal Revenue: AU$22.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Gold Industry Price to Earnings3Y Average 57.8x202420252026
Current Industry PE
  • Investors are pessimistic on the Australian Gold industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 25.1x which is lower than its 3-year average PE of 57.8x.
  • The 3-year average PS ratio of 4.0x is lower than the industry's current PS ratio of 5.1x.
Past Earnings Growth
  • The earnings for companies in the Gold industry have grown 126% per year over the last three years.
  • Revenues for these companies have grown 13% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Australian Gold compare with similar industries?

AU Market4.32%
Materials6.22%
Metals and Mining6.37%
Gold9.47%
Diversified Metals and Mining6.24%
Copper5.60%
Aluminum4.25%
Silver4.08%
Precious Metals and Minerals4.04%
Steel1.78%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
NST Northern Star ResourcesAU$24.4811.7%
+AU$3.7b		14.4%PE22.6x
GGP Greatland ResourcesAU$14.5413.2%
+AU$1.1b		n/aPE15.2x
EVN Evolution MiningAU$13.554.1%
+AU$1.1b		76.0%PE20.7x
GMD Genesis MineralsAU$6.5411.4%
+AU$765.4m		63.9%PE18.7x
WGX Westgold ResourcesAU$6.6610.8%
+AU$614.1m		125.8%PE24.9x

Latest News

PRU
AU$5.67
Perseus Mining
7D
7.4%
1Y
67.8%
GGP
AU$14.54
Greatland Resources
7D
13.2%
1Y
n/a
TTM
AU$0.79
Titan Minerals
7D
-3.1%
1Y
100.0%
RRL
AU$7.43
Regis Resources
7D
10.6%
1Y
62.6%
EVN
AU$13.55
Evolution Mining
7D
4.1%
1Y
76.0%

EVN: Higher Metal Price Assumptions Will Support Dividend And Earnings Resilience

Analysts have lifted the price target on Evolution Mining to A$14.50 from A$9.90, citing updated commodity price decks, higher long-term metal price assumptions and a shift in sector views that now place the stock at or near sector perform or hold ratings. Analyst Commentary Recent research shows a clear shift in how the street is framing Evolution Mining, with several bullish analysts revisiting their assumptions on metal prices and risk, then feeding those changes into updated valuation work.
TOK
AU$1.45
Tolu Minerals
7D
-7.1%
1Y
81.3%
HRN
AU$1.21
Horizon Gold
7D
-5.5%
1Y
171.9%
WGX
AU$6.66
Westgold Resources
7D
10.8%
1Y
125.8%

WGX: Expansion Decision And Index Inclusion Will Support Future Re Rating

Analysts have raised their price target for Westgold Resources to A$8.91 from A$3.76, citing updated assumptions for the discount rate, revenue growth, profit margins and future P/E that together change the assessment of the stock’s fair value. What's in the News Board approves Final Investment Decision to expand the Higginsville Processing Hub from 1.6 Mtpa to a nominal 2.6 Mtpa, following a Definitive Feasibility Study with capital and operating cost accuracy in the range of 5% to 15% (company announcement).
NST
AU$24.48
Northern Star Resources
7D
11.7%
1Y
14.4%

NST: Higher Long Term Gold Pricing Is Expected To Support Upside

Analysts lifted their price target for Northern Star Resources to A$35 from A$30, citing updated long-term commodity price assumptions for gold and other metals as the main reason for the change. Analyst Commentary Recent research points to revised long term commodity price assumptions for gold and other metals as a key driver behind the higher A$35 price target for Northern Star Resources, compared with the prior A$30 level.
CMM
AU$12.23
Capricorn Metals
7D
11.8%
1Y
33.2%
TBR
AU$5.48
Tribune Resources
7D
-6.6%
1Y
13.9%
GBM
AU$0.027
GBM Resources
7D
-6.9%
1Y
237.5%
GWR
AU$0.14
GWR Group
7D
-10.0%
1Y
51.7%
GMD
AU$6.54
Genesis Minerals
7D
11.4%
1Y
63.9%
TGM
AU$0.20
Theta Gold Mines
7D
-2.4%
1Y
46.4%
MEK
AU$0.16
Meeka Metals
7D
-5.9%
1Y
-3.0%